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What Does An Auctioneer Do With Two No-Limit Bids?

What happens if an auctioneer gets two no-limit mail bids on a single lot? Both clients are very respected in the numismatic community for both their erudtion and pocketbooks.
Now, the "official" auction rules don't allow no-limit bids, but both bidders are very well-established clients with the auctioneer and in fact have done much to support said auctioneer. Refusing either bidder may be a career limiting action.
Now, the "official" auction rules don't allow no-limit bids, but both bidders are very well-established clients with the auctioneer and in fact have done much to support said auctioneer. Refusing either bidder may be a career limiting action.
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Stewart Huckaby
mailto:stewarth@HA.com
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Heritage Auctions
Heritage Auctions
2801 W. Airport Freeway
Dallas, Texas 75261
Phone: 1-800-US-COINS, x1355
Heritage Auctions
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>Simply contact both parties and let them know that since there are multiple no-limit bids, they will have to put actual numbers out there. >>
If in the past they allowed no-limit bids from these bidders then this would be the best option in my opinion.
The true winner would be the consignor.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>As a follow up question, what would the auctioneer do if a giant dinosaur burst into the room in the middle of the auction? >>
Feed him the potted palm that has been bidding from the side of the room?
<< <i>As a follow up question, what would the auctioneer do if a giant dinosaur burst into the room in the middle of the auction? >>
Get eaten?
If the coin happens to be a pop 1 MS68 Walker, then no doubt $10 MILL will take it.....unless the other guy wrote down $11 MILL.
<< <i>Simply contact both parties and let them know that since there are multiple no-limit bids, they will have to put actual numbers out there. >>
What he said.
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